ideaForge Technology bulk deal: BNP Paribas buys Rs 39 crore worth shares in this multibagger

Shares of ideaForge Technology Limited witnessed significant bulk deal activity on Tuesday, with multiple institutional investors picking up stakes in the company. Leading the transactions, BNP Paribas, through its affiliate BNP Paribas Financial Markets, bought over 5 lakh shares worth approximately Rs 39 crore at Rs 783.29 apiece.

In addition to BNP Paribas, several other investors were active on the buy side. QE Securities LLP acquired 3.4 lakh shares at Rs 779.23 per share, while NK Securities Research Private Limited picked up a similar quantity at Rs 777.94 per share, translating into deals worth around Rs 26 crore. HRTI Private Limited purchased 4.55 lakh shares at Rs 776.98 apiece, and Junomoneta Finsol Private Limited bought 3.49 lakh shares at Rs 780.2 per share.

The bulk deals were executed within a narrow price band of Rs 776 – Rs 783 per share, indicating strong demand for the stock at current levels. The concentrated buying activity highlights growing investor interest in the company, particularly amid increasing focus on defence and drone-related businesses.

Following the bulk deal activity, the stock saw strong traction in the market, reflecting positive sentiment around the counter.

Ideaforge Technology shares ended at Rs 804.10, up by Rs 73.10 or 10% over the Monday closing price.

Shares of ideaForge have given multibagger returns of 111% over a one-year period compared to negative 1% returns by Nifty and negative 4% by the BSE Sensex.
The stock is currently trading above its 50-day and 200-day simple moving average (SMA) of Rs 457 and Rs 468, respectively, according to Trendlyne data.Also read: Adani Ports, Tata Motors and Siemens Energy witness block deal action on Monday

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